$2.3 B

OII Mkt cap, 18-Oct-2018

$478.7 M

Oceaneering International Revenue Q2, 2018
Oceaneering International Gross profit (Q2, 2018)29.7 M
Oceaneering International Gross profit margin (Q2, 2018), %6.2%
Oceaneering International Net income (Q2, 2018)-33.1 M
Oceaneering International EBIT (Q2, 2018)-19.6 M
Oceaneering International Cash, 30-Jun-2018339.5 M
Oceaneering International EV2.8 B

Oceaneering International Revenue

Oceaneering International revenue was $1.92 b in FY, 2017 which is a 15.4% year over year decrease from the previous period.

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Oceaneering International Revenue Breakdown

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Oceaneering International revenue breakdown by business segment: 15.2% from Subsea Projects, 20.5% from Remotely Operated Vehicles, 19.4% from Advanced Technologies, 32.6% from Subsea Products and 12.3% from Asset Integrity

Oceaneering International revenue breakdown by geographic segment: 10.1% from Asia and Australia, 9.3% from Norway, 12.3% from United Kingdom, 13.3% from Africa, 48.5% from United States and 6.5% from Other

Oceaneering International Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

3.3b3.7b3.1b2.3b1.9b

Revenue growth, %

11%(16%)(26%)(15%)

Cost of goods sold

2.5b2.8b2.5b2.0b1.7b

Gross profit

765.5m859.2m605.4m279.2m194.6m

Gross profit Margin, %

23%23%20%12%10%

General and administrative expense

220.4m230.9m231.6m208.5m184.0m

Operating expense total

220.4m230.9m231.6m208.5m184.0m

EBIT

545.1m628.3m373.8m70.8m10.7m

EBIT margin, %

17%17%12%3%1%

Interest expense

2.2m4.7m25.1m25.3m

Interest income

554.0k293.0k607.0k3.9m7.4m

Pre tax profit

542.3m623.5m336.3m43.3m(17.8m)

Income tax expense

170.8m195.1m105.3m18.8m(184.2m)

Net Income

371.5m428.3m231.0m24.6m166.4m

Oceaneering International Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

91.4m430.7m385.2m450.2m430.3m

Accounts Receivable

768.8m778.4m612.8m489.7m476.9m

Prepaid Expenses

64.9m

Inventories

441.8m375.6m328.5m280.1m215.3m

Current Assets

1.4b1.7b1.5b1.3b1.2b

PP&E

1.2b1.3b1.3b1.2b1.1b

Goodwill

344.0m331.5m426.9m443.6m455.6m

Total Assets

3.1b3.5b3.4b3.1b3.0b

Accounts Payable

129.6m123.7m118.3m77.6m85.5m

Current Liabilities

727.1m679.1m616.0m508.4m435.8m

Long-term debt

750.0m795.8m793.1m792.3m

Total Debt

750.0m795.8m793.1m792.3m

Common Stock

27.7m27.7m27.7m27.7m27.7m

Additional Paid-in Capital

222.4m229.6m230.2m227.6m225.1m

Retained Earnings

1.9b2.2b2.4b2.3b2.4b

Total Equity

2.0b1.7b1.6b1.5b1.7b

Debt to Equity Ratio

0.5 x0.5 x0.5 x0.5 x

Debt to Assets Ratio

0.2 x0.2 x0.3 x0.3 x

Financial Leverage

1.5 x2.1 x2.2 x2.1 x1.8 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

304.5m190.6m271.2m370.9m393.2m441.6m462.5m482.3m472.4m334.9m339.5m

Accounts Receivable

774.9m795.9m702.2m577.2m547.1m510.4m429.8m466.5m464.5m471.3m504.3m

Inventories

379.8m377.0m373.2m352.1m343.0m297.2m297.6m266.6m245.8m185.0m185.9m

Current Assets

1.6b1.5b1.5b1.4b1.4b1.4b1.2b1.3b1.2b1.1b1.1b

PP&E

1.3b1.3b1.3b1.2b1.2b1.2b1.1b1.1b2.8b1.1b1.0b

Goodwill

314.8m435.6m421.6m443.1m438.9m448.3m445.5m450.8m464.8m512.2m501.3m

Total Assets

3.4b3.5b3.4b3.4b3.3b3.2b3.1b3.1b3.1b2.9b2.9b

Accounts Payable

121.1m135.8m92.9m76.9m100.0m95.3m86.9m81.7m89.4m83.0m91.2m

Current Liabilities

601.8m663.0m623.8m523.2m497.6m501.1m477.5m482.9m461.5m372.5m427.4m

Long-term debt

750.0m792.9m797.5m800.6m802.3m802.3m793.9m794.1m795.8m785.1m782.2m

Total Debt

750.0m792.9m797.5m800.6m802.3m802.3m793.9m794.1m795.8m785.1m782.2m

Common Stock

27.7m27.7m27.7m27.7m27.7m27.7m27.7m27.7m27.7m27.7m27.7m

Additional Paid-in Capital

216.3m220.6m224.6m217.9m221.5m223.7m218.3m221.7m224.5m212.0m215.1m

Retained Earnings

2.3b2.3b2.4b2.4b2.4b2.3b2.3b2.3b2.2b2.4b2.3b

Total Equity

1.6b1.6b1.6b1.6b1.6b1.6b1.5b1.5b1.5b1.6b1.6b

Debt to Equity Ratio

0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.3 x0.3 x0.3 x0.3 x0.3 x

Financial Leverage

2.1 x2.2 x2.2 x2.1 x2.1 x2.1 x2.1 x2.1 x2.1 x1.8 x1.9 x

Oceaneering International Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

371.5m428.3m231.0m24.6m166.4m

Depreciation and Amortization

202.2m229.8m241.2m250.2m213.5m

Accounts Receivable

(100.0m)(8.5m)178.8m123.0m13.1m

Inventories

(110.0m)66.3m33.2m17.8m65.5m

Cash From Operating Activities

531.4m721.8m560.4m340.5m136.5m

Purchases of PP&E

(382.5m)(386.9m)(200.0m)(112.4m)(93.7m)

Cash From Investing Activities

(377.6m)(419.5m)(437.2m)(169.5m)(112.0m)

Dividends Paid

(90.9m)(109.7m)(106.5m)(94.1m)(44.2m)

Cash From Financing Activities

(180.3m)45.4m(157.0m)(97.1m)(45.9m)

Net Change in Cash

(29.1m)339.3m(45.5m)65.0m(19.9m)

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

69.5m135.0m203.5m25.1m47.4m35.6m(7.5m)(5.4m)(7.2m)(49.1m)(82.2m)

Depreciation and Amortization

58.0m121.5m183.5m59.8m119.8m194.0m53.7m107.0m160.5m54.1m114.0m

Accounts Receivable

3.5m5.3m98.4m35.6m65.7m102.4m60.0m23.3m25.5m20.8m(12.2m)

Inventories

(4.2m)1.4m5.1m(23.7m)(14.6m)768.0k(17.5m)13.5m35.0m(3.0m)(3.9m)

Cash From Operating Activities

8.1m200.5m373.1m53.6m145.7m262.8m59.0m102.6m144.0m5.6m15.7m

Purchases of PP&E

(49.4m)(94.8m)(139.2m)(21.2m)(52.9m)(83.4m)(17.8m)(41.3m)(59.9m)(25.7m)(53.5m)

Cash From Investing Activities

(48.2m)(322.6m)(385.1m)(37.5m)(77.2m)(117.4m)(30.7m)(40.3m)(78.8m)(92.3m)(94.8m)

Long-term Borrowings

(300.0m)(300.0m)

Dividends Paid

(27.0m)(53.6m)(80.0m)(26.5m)(53.0m)(79.4m)(14.7m)(29.5m)(44.2m)

Cash From Financing Activities

(83.5m)(104.9m)(131.3m)(29.5m)(56.0m)(82.4m)(16.6m)(31.5m)(46.0m)(5.8m)(5.8m)

Net Change in Cash

(126.2m)(240.1m)(159.6m)(14.4m)8.0m56.4m12.3m32.1m22.2m(95.4m)(90.8m)

Oceaneering International Ratios

USDY, 2018

EV/EBIT

-142 x

EV/CFO

177.8 x

Debt/Equity

0.5 x

Debt/Assets

0.3 x

Financial Leverage

1.9 x
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Oceaneering International Operating Metrics

Oceaneering International's Backlog was reported to be $1.4b in FY, 2017.
Q4, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Mar, 2018Q1, 2018Q2, 2018

Backlog

$3.17 b$2.52 b$1.55 b$1.38 b

Backlog (Subsea Products)

$690 m$788 m$703 m$736 m$652 m$576 m$503 m$457 m$431 m$407 m$328 m$284 k$276 m$240 m$245 m

Remotely Operated Vehicle Fleet

336 336 336 337 315 318 318 279 280 282 279 279 279 279 279

Vessel Fleet

8 8 5 5

Average Number of Floating Rigs under Contract

280 241 193 174 162 151 177 151 153 151 150 147 154

Remotely Operated Vehicle Days on Hire

24.68 k98.30 k22.14 k21.71 k21.23 k18.76 k83.84 k16.01 k16.06 k15.16 k12.75 k59.96 k11.49 k12.27 k12.74 k47.28 k11.03 k13.65 k

Remotely Operated Vehicle Utilization

80%83%73%71%68%62%69%56%55%52%50%53%46%48%50%46%44%54%

Locations

60
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